Dr Maxwell Opoku-Afari Archives

25 Oct

BoG Champions Global Fintech Collaboration At DC Fintech Week 2024

Wontumi2BusinessDr Maxwell Opoku-Afari

The Bank of Ghana took a significant step in expanding global fintech collaboration by co-hosting a high-level networking event with the organizers of DC Fintech Week 2024 on October 24, 2024, at the Hay-Adams in Washington, DC. This strategic meeting, coinciding with the IMF and World Bank Annual Meetings, sought to underscore the critical role of international partnerships in harnessing Africa’s fintech potential, with a specific focus on Ghana’s growing fintech ecosystem. Dr. Maxwell Opoku-Afari, the First Deputy Governor of the Bank of Ghana, led the discussions alongside key dignitaries such as Ghana’s Ambassador to the United States, Her Excellency Hajia…

First Deputy Governor Of BoG Calls For Improved Tax Administration

Wontumi2BusinessBoG, Dr Maxwell Opoku-Afari, Tax

The First Deputy Governor of the Bank of Ghana, Dr Maxwell Opoku-Afari is calling for an improved tax administration in the country. He said Ghana’s tax -to -GDP ratio is one of the lowest compared to its peers. Citing an example, Dr Opoku-Afari said the ratio of tax revenue to GDP in 2020 was 13.4 percent compared to an average of 16 percent for Africa, 19.1 percent for Asia and Pacific region, 21.9 percent for Latin America and the Caribbean region and 33.5 percent in OECD. This he indicated calls for broadening the tax base, upgrading tax policies, and revenue administration…

Economy to recover earlier than expected – First Deputy Governor of BoG

Wontumi2BusinessDr Maxwell Opoku-Afari, economy

First Deputy Governor of the Bank of Ghana Dr Maxwell Opoku-Afari has said contrary to fears that the economy will take some time before getting back on track, data available to the Central Bank suggests that the economy is on its way to recovery. According to him, even though the country experienced a contraction in economic activities in the second quarter of this year, the Central Bank’s Composite Index of Economic Activity (CIEA) shows significant recovery in the third quarter. He said “what we have seen at the Central Bank and one of the advantages we have is to have…